Oh, it’s ugly, « ever so ugly out there »:

‘Discount airline carrier Jetsgo, which stopped flying in March, announced Friday that it is bankrupt. Jetsgo founder Michel Leblanc had hoped to have the carrier operating again by late June but he was unable to persuade some of the airline’s creditors to agree to his restructuring plan. Jetsgo had submitted a plan to Transport Canada to resume operations as a radically smaller carrier with eight aircraft. The airline had 29 aircraft before it abruptly shut down two months ago, stranding thousands of passengers during the spring break holiday.’

— SF Chronicle

Question is, who’s next?